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Mike Dolan named Chairman and CEO of Y&R

19 October, 2001

Young & Rubicam announced today that, effective November 1, Michael J. Dolan has been named Chairman and Chief Executive Officer of Y&R Advertising. He adds these responsibilities to his current role as Chairman and CEO of Young & Rubicam Inc. After 10 years with Young & Rubicam, Ed Vick has decided to retire from the company to pursue his other interests.

"Ed has given so much of himself in the 10 years he’s been at Young & Rubicam," said Mike Dolan. "He’s a passionate leader, dedicated to clients and staunchly committed to creative excellence. Y&R has been enriched by his leadership; Ed’s values are now truly part of the fabric of our company," he continued.

"It’s time now to begin a new chapter in my life," stated Ed Vick. "Y&R is in a good place. I think we have accomplished a tremendous amount during my time here, and I’m proud to have been part of it. Y&R Advertising is in excellent hands. Mike’s a smart guy and a good guy. A people person and a client person. He’ll be a good leader."

Peter Georgescu, Chairman Emeritus of Young & Rubicam, will add the title of Senior Advisor to the corporation. Peter Georgescu said: "I’ve worked closely with Mike over the past five years. He has terrific business-building instincts, an impressive range of experience, and is the consummate client-focused professional. I look forward to the opportunities to work with him as he takes on his new responsibilities."

At the same time, Dolan announced his intentions to develop a stronger alliance between Y&R Advertising and Wunderman. "Y&R has always differentiated itself by being able to deliver seamless, integrated communications," said Dolan. "Ever increasingly, our clients need to reach across disciplines to connect with their consumers. The Alliance will capitalize on the long-standing relationship between these two companies and strengthen the entire Y&R Group’s delivery of its ‘Best Alone, Better Together’ strategy."

Dolan joined Y&R as Vice Chairman and Chief Financial Officer in 1996. As CFO, Dolan was a key player in helping Young & Rubicam successfully transform from a private to a publicly held company. He was appointed Chairman and Chief Executive Officer of the Y&R Group in January 2001. At the same time, he was named to the WPP Board of Directors, from which he will now step down given his new operational responsibilities.

Prior to Y&R, Dolan was President and Chief Executive Officer of Snack Ventures Europe, the joint venture between PepsiCo International and General Mills. He also served as Senior Vice President, Worldwide Operations for PepsiCo Foods International. From 1987 to 1991, Dolan served as Corporate Executive Vice President for Continenal Can Company, when it was acquired and restructured by Peter Kiewet. He was also a Partner in the Strategy Practice of Booz Allen & Hamilton from 1979 until 1987.

Dolan holds an M.B.A. from Columbia University and a Ph.D. in Medieval Literature from Cornell University.

Acrobat Document YR_PressRelease_MikeDolanNamedChairmanandCEOofYR_o.pdf

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